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Year-end Report July 2017-June 2018

Published: 2018.08.29 i Home

Positive ending of 2017/2018
Improved results in all business areas – a strong balance sheet provides room for further growth

Fourth quarter April-June 2018
• Profit after taxes amounted to MSEK 49.6 (12.6). The quarter was unaffected by negative goodwill.
• Net sales amounted to MSEK 789.8 (585.8). The business in Cresco, acquired during the second quarter, contributed MSEK 83.1.
• Operating profit amounted to MSEK 47.7 (22.5), with business area Fibre accounting for MSEK 34.8 (26.6).
• Cash flow from operating activities amounted to MSEK 41.6 (51.5)
• Earnings per share before and after dilution amounted to SEK 1.27 (0.32)
• Agreement to acquire Universal Power Nordic, a leading supplier of diesel engines. Possession taken in July 2018.

Period July 2017-June 2018
• Profit after taxes amounted to MSEK 130.6 (54.3), with negative goodwill from the acquisition of Cresco accounting for MSEK 31 and MSEK 14 from capitalisation of loss carryforwards related to the acquisition.
• Net sales for the financial year amounted to MSEK 2,526.4 (2,021.5).
• Operating profit for the financial year amounted to MSEK 116.2 (83.8), with MSEK 31 thereof being negative goodwill from the acquisition of Cresco.
• Cash flow from operating activities amounting to MSEK 75.7 (112.6).
• Cash and cash equivalents amounted to MSEK 262.2 (295.4) and the Group’s net debt amounted to MSEK 11.5 (–25.5). Capital investments burdened cash flow by MSEK 106.0.
• Earnings per share before and after dilution amounted to SEK 3.35 (1.39) for the financial year.
• Equity increased during the financial year by 27 percent, equivalent to SEK 4.87 per share.
• The Board of Directors proposes that no dividend is paid for the 2017/2018 financial year.

In accordance with IFRS rules for reverse acquisitions, business areas Industrial Trading and Other Industry are included in the number above only from February 2017. In the table below the numbers for the 2016/2017 financial year have been restated to include all business areas for the entire period.

For further information
John Häger, CEO, telephone +46 70 248 72 99.

The information in this year-end report is of the type Duroc AB (publ) is under obligation to publish in accordance with EU’s Market Abuse Regulation, EU/596/2014. The information herein was provided for publication at 7:15 a.m., 27 August 2018.

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